Plan ahead when you are buying or selling your home
Like all seasons in Ottawa, things are either very cold or very hot. We have two distinct hot real estate markets here. There is the spring season, which actually starts mid-winter (early-mid February) and goes to early June. Then there is the fall market. This starts immediately after Labour Day and runs until mid November-ish).
Of course, people have reasons to move and to buy and sell their homes all year round, but these are the two periods of the year that you will find the most activity, i.e. the most buying and selling activity.
If you are a buyer, this is important because there will likely be more choice (more inventory of homes) during these periods.
If you are a seller, there will be more buyers looking for homes during these times of the year. The fact that there are more buyers means there will be more competition, which inevitably means higher prices – as long as other market conditions remain essentially the same.
Plan ahead for your move
While I have prepared a home for sale in as little as 10 days and have helped make quick purchase decisions, my standard advice it to plan well ahead if you know you will be buying and/or selling in the future.
If you are planning to buy a home in Ottawa, start the planning work a minimum of six months beforehand. This planning includes initial conversations with both your real estate professional and your mortgage broker/lender. We walk you through the steps of the process and help you prepare everything you will need when the time comes.
My particular step-by-step formula for a successful home purchase is focused first on ensuring the home you are looking for aligns with your lifestyle and your budget. Then, it follows a systematic set up of steps to get you to new home ownership as smoothly as possible. I have a number of “dos and don’ts” for those lead-up months, whether you rent or own currently, that are enormously helpful.
Your lender meeting is equally as important. Your lender can explain all the documentation you will need in order to get approved for a mortgage loan. They will also give you rough estimates about your pre-qualification based on income and/or assets.
If you are planning to sell your Ottawa home, in the spring season (it’s fall as I write), NOW is the time to reach out to your real estate agent.
First off, it’s the perfect time to get professional exterior photos while the trees still have leaves and the neighbourhoods are green. I offer this extra set of photos for free to my clients. I am not a fan of backyard winter photos. Decks, landscaping and perennial gardens add value to a home, and they just aren’t considered by prospective buyers when they are covered in a white blanket of snow.
Having a conversation six months to a year ahead of a move allows me to create a work-back schedule and project plan for my clients with all the jobs that each of us is responsible for as we prepare to sell in the future. Whether it’s renovating a bathroom for maximum resale value, booking painters and other service providers, the longer the runway, the more likely things will get done on time and on budget, allowing you, the seller, to end up with the most money possible in your pocket.
Here’s my little video clip on this topic. Share it with a friend who you think might benefit!
I'm Liisa and I love helping people moving to Ottawa make their home purchase and transition smooth and seamless. I also love helping sellers get the most for their Ottawa home. Let me know how I can help you make your real estate dreams come true.
613-898-1184 (call or text)